All Forum Posts by: Tate Siemer

How much equity is typically offered to money/equity partners on apartment deals?  In other words, if the project cost is 2mil, and an equity partner brings in 1mil to secure financing, how much of the profit would you offer them?  I've heard 20-40%.  Does that sound about right?

Hello! Does anyone have experience working with investors who become a member of an LLC specific to the individual project, of which you are also a member?  These would be equity partners bringing in funding to fulfill an equity requirement on a hard money "take-down" loan or a construction loan, typically for multi-family projects.  What are the typical mechanisms that can provide security to that investor?  What verbiage do you use to explain that?  

We have 3 separate townhome projects located in high-growth areas of Salt Lake City for which we are seeking investors and/or partners. Investment opportunities are available at multiple entry levels for each project, starting at $250K. They are between 27 and 48 unit townhome projects. The first two opportunities will fund at the end of Feb., with others following. With all 3 projects we intend to entitle the land (plat approval and building permits) so that it is shovel-ready for a builder/developer. We already have an LOI from a builder to purchase entitled, permitted lots on one of the projects, and multiple builder interest on the other projects. 2 of the projects will take 4-6 months, and one will be 6-8 months. ROI will be contingent upon investment level and repayment structure, and we anticipate significant wins for all invested.

Daniel, I would look carefully at jumping straight into small apartments (5 units and up).  They're easier to finance, and much easier to leverage.  The small apartment game is  so much easier than anything in the residential realm (4 units and less).  PM me for more thoughts.  I'm pretty good at helping people get going in this world.  Its much easier than you would think.

Here is an off-market duplex that is the PERFECT turnkey house to “hack” (owner occupy and rent out the other side).

Side-by-side brick duplex near Liberty Park (roughly 400 East and 1300 S), 2600 sq ft (1300 sq ft/unit), 3 BR/2 Bth. 

Fully remodeled (will be complete in 2 weeks) with all new windows, HVAC/central air, finished basements with full bathrooms/bedrooms/laundry hookups, granite/stainless kitchen, Luxury Vinyl Plank flooring throughout, ceiling fans. Charming inside and out. WONDERFUL tree-lined, quiet street, easy walk to Liberty Park, Tracy Aviary, Beans and Brews, The Park Cafe and other local establishment.  Both sides are vacant as of now, and should rent for at least $1700/unit, if not more due to the “newness” and upscaled finishes of the units.

Buy now and pick your unit AND your next door neighbor! $529,000.

Text me with any questions.

Hello!  Does anyone know the scene in the Hurricane/LaVerkin/Virgin area as far as the rules around AirBnb's?  I'm looking to potentially invest there in 2019.  Would love a referral to an area expert.

Hello!  We are OlympusHOMES, a Utah-based apartment/multi-family investing firm and are currently looking for apartment building projects, either existing or new construction.  We are open to looking at opportunities in , but our area of expertise is the Utah, and specifically Salt Lake City market.  We are looking at anything from 5 units and up (we'll rarely do duplexes or fourplexes as well, if they make sense).  We implement eco-friendly features whenever we can, and aim to catalyze well-being for our tenants and communities.  Please call/text Tate anytime at 801-699-4532.

ps...this is our first apartment building!  We are so excited!!!

View report

I had to customize a bit.  We are purchasing the property for $1,050,000 and doing $250K worth of work to it, hence the aquisition price of $1.3mil, but then the loan amount changes, so this is an imperfect analysis.  We need a apartment fix and flip calculator!  :)

*This link comes directly from our calculators, based on information input by the member who posted.